Attention Mechanism (AM) selectively focuses on essential information for imaging tasks and captures relationships between regions from distant pixel neighborhoods to compute feature representations. Accelerated magnetic resonance image (MRI) reconstruction can benefit from AM, as the imaging process involves acquiring Fourier domain measurements that influence the image representation in a non-local manner. However, AM-based models are more adept at capturing low-frequency information and have limited capacity in constructing high-frequency representations, restricting the models to smooth reconstruction. Secondly, AM-based models need mode-specific retraining for multimodal MRI data as their knowledge is restricted to local contextual variations within modes that might be inadequate to capture the diverse transferable features across heterogeneous data domains. To address these challenges, we propose a neuromodulation-based discriminative multi-spectral AM for scalable MRI reconstruction, that can (i) propagate the context-aware high-frequency details for high-quality image reconstruction, and (ii) capture features reusable to deviated unseen domains in multimodal MRI, to offer high practical value for the healthcare industry and researchers. The proposed network consists of a spectral filtering convolutional neural network to capture mode-specific transferable features to generalize to deviated MRI data domains and a dynamic high-pass kernel generation transformer that focuses on high-frequency details for improved reconstruction. We have evaluated our model on various aspects, such as comparative studies in supervised and self-supervised learning, diffusion model-based training, closed-set and open-set generalization under heterogeneous MRI data, and interpretation-based analysis. Our results show that the proposed method offers scalable and high-quality reconstruction with best improvement margins of ∼1 dB in PSNR and ∼0.01 in SSIM under unseen scenarios. Our code is available at https://github.com/sriprabhar/SHFormer.